In this video, I go through what a short sale actually is. I realized I've never broken down what a short sale is, what the process looks like, or how it applies to your business as a realtor. ...more
Real Estate Investors, STOP leaving money on the table!
As a real estate investor, you’re taught to exclusively target properties with equity. We get it. But what you may not understand is that you’re walking away from money. That’s where we come in - refer the homeowner to us! We’ll pre-qualify them and give you the opportunity to buy the property for a discount through a short sale with their lender.
Indicators of a short sale opportunity
The homeowner has little-to-no equity
The home needs repairs the homeowner can’t afford to fix
The homeowner is currently in foreclosure
The homeowner has to bring money to closing for fees
How a short sale processor works for you
We’ll handle the entire process from start to finish.
Submit a lead.
Submit a property lead to us by entering the homeowner’s information as well as yours. Let the homeowner know we will be contacting them, so we have a better chance of connecting with them as soon as possible.
Pre-qualify the homeowner.
Upon receiving the lead, we will call the homeowner and pre-qualify them, ensuring we get all the information we need up front to process a successful short sale.
Once we determine that we will take on the short sale, we will follow up with you and provide an update every step of the way.
First right of refusal.
When you refer a lead to us, you’ll have the first right of refusal to purchase the property. We will negotiate your offer with the bank and work hard to get it approved.
Resources for real estate investors
Frequently asked questions
The lender pays us a commission to represent the homeowner (at no cost to them) to facilitate the process.
We will make sure the lender puts in writing that the homeowner’s debt is settled after the short sale. This means the homeowner will have no further financial obligations to worry about once the home is sold.
Most homeowners qualify for relocation assistance from the bank. The amount we’re able to negotiate for ranges from $1,500 to $10,000.
It depends on many things, including late or missed payments. A short sale may appear on the homeowner’s credit report as “settlement or pre-foreclosure redemption,” “paid in full for less than full balance,” or other terms.
*Missing mortgage payments will definitely affect the homeowner’s credit rating.
A short sale where the lender forgives (cancels) the debt is a relief of debt. The IRS may treat this as income for tax purposes. A limited exemption allows homeowners to pay no taxes on certain types of debt forgiveness especially if it's your primary residence. The government has been extending the Mortgage Forgiveness Debt Relief Act since 2007 and we do believe they will keep extending it or create a permanent law for it soon.
Every short sale is different, because every homeowner’s situation is different. Our average time frame is 3-4 months.
What our clients are saying…
What our clients are saying…
“Had an awesome experience, was updated weekly and answered all our concerning questions. Glad to have had an awesome team working with us!”
“Nicole and her team are extremely knowledgeable and accessible. Communication was easy and they were very efficient. Highly recommended.”
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